World Business Briefing | Europe: The Netherlands: Heineken Acquisition

Published: May 3, 2003

The Dutch brewer Heineken will acquire an Austrian brewer, BBAG, in a deal worth 1.9 billion euros ($2.1 billion), creating the biggest player in central Europe's lucrative beer market, the companies said. Heineken, one of the world's top four brewers, with operations in 170 countries, is paying 769 million euros for a 68.7 percent stake in BBAG, Austria's biggest brewer, whose brands include Zipfer, Goesser and Edelweiss beers, and then make a public bid for the outstanding shares. The 1.9 billion euro valuation consists of 1.5 billion euros in cash and the assumption of about 400 million euros of debt.